Cost of estate agent

hannible the cannible

Hi all , I am thinking of selling a site for a house that I own , my question is , how much would an estate agent cost me ? Do I pay up front for their services upfront or do I pay upon sale of site ? and finally , what percent of the sale will I end up paying the estate agent approx ?

Money is tight at the moment , hence the reason for sale , so I want to consider all my options before I contact an estate agent , thanks in advance for all replies

seamus

Anywhere between 1% and 2.5%, plus outlays. Most are negotiable, ring a few of them to compare but in a given area all of the agents will likely be charging similar rates.

You usually pays the outlays up front (cost of advertising), but the percentage fee comes out of the sale. When the agent takes a deposit from the purchaser, the agent holds their fee out of the deposit and passes the rest onto your solicitor.

sullivk

Ours is charging 1.25% plus VAT @ 23%, I haven't had to pay anything upfront.

hannible the cannible

Thanks guys , and another that occurred to me is how much tax would I have to pay on it , I'd hope to get around 22 thousand for it , thanks

riclad

Most charge 1-1.5 per cent of the sale price,
say sold for 100k ,1-per cent = 1000euro plus vat .they,ll send a bill when the site is sold usually.

Turnipman

hannible the cannible wrote: »

Thanks guys , and another that occurred to me is how much tax would I have to pay on it , I'd hope to get around 22 thousand for it , thanks

You'd be liable for Capital Gains Tax at 33% on the gain that you made on the sale, i.e. not on the full proceeds that you realise from the sale.

You can deduct the acquisition cost of the land plus any selling expenses, i.e solicitor/auctioneer/advertising.

See here for more info on CGT: http://www.revenue.ie/en/tax/cgt/cgt-faqs.html

hannible the cannible

That's great , thanks everyone